Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.018%

Price spread now: Aftermath Perps against Bybit−0.133%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aftermath Perps is 0.133% cheaper against Bybit than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3.8 days of funding at the current rate (+$4 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ETHUSDT	2,728.2	−0.0024	get 0.0024% / 8h	7h 58m	$2.32B	$4.32B	150x
Short	Aftermath Perps ETHUSD	2,724.6	0.0093	get 0.0012% / 1h	58m 33s	$30K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee Aftermath PerpsbpOrdersPrice spread, now −0.133%Rate

Funding earned: $24.68
Price spread: −0.133% → 0.000%: −$13.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$8.62
Costs to cover: 0.200%
Break-even: 9.4 days

Slippage unknown: Bybit: live order book, 6 min ago; Aftermath Perps: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 6 min ago	0.02 bp	5.5 bp −$6	5.5 bp −$55	7.4 bp −$739	9.9 bp −$4,967
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ETH on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,725.5	−0.097%	$274K	$5.7M	8.3x	as long as short
Gate ETH_USDT	−0.0097%	8h	2,729	+0.031%	$3.31B	$8.17B	200x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,728.1	−0.003%	$5K	$1K	50x	as long as short
Bybit ETHUSDTlong	−0.0024%	8h	2,728.2	long leg	$2.32B	$4.32B	150x
Phoenix ETH	−0.0015%	1h	2,723.8	−0.161%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.6	−0.093%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728.3	+0.003%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.2	−0.073%	$6.7M	$672.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,726.1	−0.076%	$264.3M	$216.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,725.8	−0.088%	$32.9M	—	200x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0018%	8h	2,728.1	−0.004%	—	$18.6M	—	as long as short
01 Exchange ETHUSD	+0.0064%	1h	2,729.5	+0.048%	$191K	$884K	50x	as long as short
OKX ETH-USDT-SWAP	+0.0078%	8h	2,728.2	+0.001%	$1.65B	$10.74B	100x	as long as short
ApeX Omni ETHUSDT	+0.0078%	1h	2,722.1	−0.224%	$8.4M	$31.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0080%	1h	2,724.2	−0.144%	$239K	$1.4M	20x	as long as short
SoDEX ETH-USD	+0.0081%	1h	2,725.2	−0.109%	$54.3M	$182.6M	40x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,727.5	−0.025%	$383.0M	$575.8M	100x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,728.4	+0.007%	$252.3M	$851.3M	200x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,729.1	+0.035%	$1.58B	$2.53B	500x	as long as short
Aftermath Perps ETHUSDshort	+0.0093%	1h	2,724.6	−0.133%	$30K	$20K	20x
Binance ETHUSDT	+0.0095%	8h	2,728.9	+0.027%	$6.32B	$16.09B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.8	−0.015%	$112.3M	$399.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729	+0.029%	$23.4M	$95.0M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,724	−0.153%	$4.9M	$191K	20x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.6	+0.090%	$15.4M	$7.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.9	−0.010%	$14.1M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730	+0.067%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728	−0.007%	$32.1M	$332.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.2	+0.001%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729	+0.029%	$1.6M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.1	−0.039%	$161.7M	$337.0M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.8	+0.022%	$2.11B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726	−0.081%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,723	−0.191%	$131.2M	$318.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,722.3	−0.214%	$185.2M	$683.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.8	−0.162%	$158.3M	$81.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.2	−0.073%	$20.9M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.4	+0.044%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,727.1	−0.040%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,725.4	−0.102%	$180K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,726.4	−0.065%	$20K	$23K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.4	−0.028%	$40.5M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,724.7	−0.126%	$955K	$10.7M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,725.4	−0.102%	$1.05B	$1.21B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726	−0.081%	$262.7M	$64.0M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.3	−0.070%	$30.4M	$71.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,725.1	−0.113%	—	$30.1M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,725.8	−0.087%	$81.9M	$310.4M	100x	as long as short
BloFin ETH-USDT	+0.0107%	8h	2,725	−0.116%	$280.6M	$177.6M	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,726.6	−0.058%	$46.7M	$4.25B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,728.8	+0.024%	$5.6M	$11.6M	25x	as long as short
Reya ETHRUSDPERP	+0.0176%	1h	2,724.5	−0.135%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,727.8	−0.014%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,728.4	+0.008%	$117K	$18.9M	52x	as long as short